Sigma Investment Counselors Inc. Trims Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Sigma Investment Counselors Inc. reduced its stake in Amazon.com by 4.2%, owning 75,877 shares after selling 3,346 shares in the last quarter.
• Insider Jeffrey P. Bezos sold over 4.27 million shares of Amazon, valued at nearly $960 million, reducing his ownership by 0.47%.
• Amazon reported stronger-than-expected quarterly results with an earnings per share of $1.68 and revenue of $167.70 billion, significantly surpassing analysts' estimates.

Sigma Investment Counselors Inc. decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,877 shares of the e-commerce giant's stock after selling 3,346 shares during the quarter. Amazon.com comprises about 0.9% of Sigma Investment Counselors Inc.'s portfolio, making the stock its 27th biggest holding. Sigma Investment Counselors Inc.'s holdings in Amazon.com were worth $14,436,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Northern Capital Management Inc. raised its stake in Amazon.com by 0.6% in the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock valued at $1,613,000 after purchasing an additional 45 shares during the last quarter. Balanced Wealth Group LLC raised its holdings in Amazon.com by 1.6% in the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant's stock valued at $705,000 after buying an additional 48 shares during the period. ETF Store Inc. raised its holdings in Amazon.com by 2.1% in the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant's stock valued at $522,000 after buying an additional 48 shares during the period. Chatham Capital Group Inc. grew its position in Amazon.com by 0.8% in the fourth quarter. Chatham Capital Group Inc. now owns 6,019 shares of the e-commerce giant's stock valued at $1,321,000 after acquiring an additional 50 shares in the last quarter. Finally, Foundry Financial Group Inc. grew its position in Amazon.com by 3.5% in the fourth quarter. Foundry Financial Group Inc. now owns 1,507 shares of the e-commerce giant's stock valued at $331,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Amazon.com stock traded down $19.36 during mid-day trading on Friday, reaching $214.75. 122,007,379 shares of the company's stock were exchanged, compared to its average volume of 43,924,596. The business's fifty day simple moving average is $218.20 and its 200 day simple moving average is $209.11. The firm has a market capitalization of $2.28 trillion, a PE ratio of 32.74, a P/E/G ratio of 1.57 and a beta of 1.31. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. Amazon.com's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 25,099,537 shares of company stock valued at $5,674,394,548 over the last three months. Company insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $235.00 price target on shares of Amazon.com and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Citigroup raised their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday. Pivotal Research raised their target price on Amazon.com from $260.00 to $285.00 and gave the company a "buy" rating in a research note on Friday. Truist Financial raised their target price on Amazon.com from $226.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $265.00 price objective on shares of Amazon.com in a research note on Friday. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com has an average rating of "Buy" and a consensus price target of $262.45.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.